ᐅ Assistance with Planning and Strategy Development – Ideas, Suggestions, and Advice

Hello everyone,

I have only recently started exploring the topic of homeownership and over the past few weeks have gathered a huge amount of information, looked at apartments, houses, and plots of land, and spoken with a mortgage broker to get an overall picture and establish my budget. What has become clear in the meantime is that everyone wants to make money—some in a rather bold way, others more honestly. So for now, I have decided to take a step back and thought I might find some valuable ideas and comments here, as many of you have probably either built a house or are in the process of doing so and faced similar questions.

What am I hoping for? To find the most suitable path for me to move into my own home within a foreseeable time frame without exceeding my financial limits or making too many compromises that I might regret later.

Since I probably don’t fit the typical profile of a “young family urgently needing space for children and wanting to build a house now,” I think my circumstances might allow an approach that differs from this common narrative and therefore unconventional options might be more interesting for me.

Preferences:

I thought I’d start by specifying the things that are important to me, without worrying about feasibility at this point.

There is really only one must-have on my list. This requirement isn’t necessarily reasonable or justifiable, but is based purely on my gut feeling and previous experience: it should be a detached house, not an apartment or semi-detached house.

My “would be important” list is as follows: classic gable roof, living area of at least 150m² (approximately 1,615 sq ft), at least KfW55 energy efficiency standard, very open floor plan on the ground floor with a living kitchen and as few walls as possible.

The “nice to have if possible” list includes: basement (of course unlikely), underfloor heating.

Regarding my situation:

I have a well-paid permanent job with a 35-hour workweek (which gives me quite a bit of time in the afternoons and evenings) and free weekends. I currently live in a very affordable rental apartment (€290 warm, the building belongs to a friend’s parents) and I could afford about €1,000 per month for loan repayments without financial strain or reducing any savings or other expenses. Since I am unmarried and don’t have a family, I am very flexible timewise, meaning I have no problem if the home building project takes one or two years. Of course, I don’t want it to take any longer than necessary, but I have no time pressure since my current rent is so low and I also wouldn’t mind living on a construction site for some time while the house is gradually completed. I know many might think I’m underestimating the chaos of living in dust and disorder, but I am actually quite sure about this last point.

I also don’t need a full furnishing package right away—no new furniture for the entire house, no brand-new kitchen, no complete garden or terrace. I would add all those things gradually over time and don’t need them all ready two weeks after completion. Regarding furniture, I am not starting from scratch, same with the kitchen.

Plot of land:

I haven’t found a plot yet, so I still need to find one. I prefer buying rather than leasing, but this choice is also based on gut feeling rather than rational reasons (I like to have things settled for good; with a lease, I would feel subject to the “arbitrariness” of the lessor). However, maybe there are very good reasons that could speak in favor of leasing in my case? I am by no means fixed on this.

Apart from that, the only thing worth mentioning is that I’d rather avoid a typical new housing estate with houses built closely together if that can be prevented. Of course, it always depends on the specific case, and I don’t want to completely rule it out. But I have spent the last 15 years living in the middle of a gray city and would have no problem living with few or no neighbors in a rural to very rural setting.

Budget:

Since I am currently faced with quite contradictory information, my budget is still a variable figure. The budget below should always be understood as the total amount for house including materials and services, plot, and all additional costs. An independent financial advisor gave me the green light for €280,000 - 300,000, a consultant from a turnkey home provider came up with a similar number, while a sales advisor from Fingerhaus openly told me this figure was unrealistic, which I found quite remarkable because he is probably the last person on earth who would want to stop me from paying his company an unhealthily large sum of money. According to his calculation, a budget of €200,000 would be a “healthy” number, as it already factors in an interest rate rise towards the end of the term to, from today’s perspective, a pessimistic 6%. Although I had read many positive comments about the transparency of this company on various homeowner blogs and forums during my research, I was quite shocked after this conversation. On the same day, a couple of hours earlier, I spoke with a man from Massa Haus who presented me with an offer of €320,000 and said that with HIS financing (BHW) it would “definitely be feasible.”

The last thing I need is sugarcoating or false hopes. I want to spend only what can be done in good conscience and with sufficient reserves, not a cent more. For this reason, I have arranged several more appointments with financiers to get a realistic picture. I will probably also consult a fee-based advisor to eliminate distortions caused by commission clashes between banks and brokers.

Based on my own calculations and comparisons, €200,000 has always been the lower limit, so I will under no circumstances exceed it without good and convincing reasons, even if this undoubtedly makes my project more difficult or even unfeasible. Period.

About my skills:

I am not a tradesman but an IT specialist. Still, I don’t have two left hands and I am not afraid to get involved in more robust tasks. Of course, I know some jobs should definitely be left to people who do them every day. For example, drywall work I can confidently do myself, but heating system installation and electrical work I’d prefer to have done by professionals or “qualified friends” (see below), also for insurance reasons. I think I could manage plumbing work too, as I can rely on the expert knowledge and support of some people. I’m not afraid and would be willing to try certain things and then see if I can handle them or not. Naturally, only if there’s no risk of causing serious, irreversible damage on the first attempt.

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